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Analysis: Sentiment in the crypto market has shifted; the survey regarding Federal Reserve Jerome Powell may be injecting a "risk premium" into Bitcoin
Svmuu News: The crypto market experienced its largest short squeeze since the "10/11 crash" this week, with investor sentiment shifting from fear to greed.Nicolai Sondergaard, a research analyst at crypto data analytics platform Nansen, stated that uncertainty regarding the independence of Federal Reserve and rising geopolitical concerns are structural tailwinds for Bitcoin. While precious metals remain the primary beneficiaries of the current market environment,Bitcoin is increasingly becoming part of the discussion on alternative reserve assets, and the criminal investigation into Federal Reserve Chair Jerome Powell could bring a “risk premium” to BTC. Market data shows that the price of Bitcoin has risen 10.6% year-to-date, while the U.S. Dollar Index (DXY) has risen 0.75% over the same period. (Cointelegraph)
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